Business Fundamentals

Choose a study mode

Play Quiz
Study Flashcards
Spaced Repetition
Chat to Lesson

Podcast

Play an AI-generated podcast conversation about this lesson
Download our mobile app to listen on the go
Get App

Questions and Answers

Which of the following is a description of a business model?

  • Aspects of a product or service that makes it more appealing to target customers
  • A profit-seeking organization that provides goods and services
  • The money that a company brings in through the sale of goods and services
  • A description of how the business intends to generate revenue (correct)

What is the definition of competitive advantage?

  • Aspects of a product or service that makes it more appealing to target customers (correct)
  • A profit-seeking organization that provides goods and services
  • A description of how the business intends to generate revenue
  • The money that a company brings in through the sale of goods and services

Which type of organization provides goods and services without seeking to make a profit?

  • Nonprofit organizations (correct)
  • Firm
  • Service businesses
  • Goods-producing businesses

What does the term 'geographic reach' refer to?

<p>The extent to which a business operates locally, regionally, nationally, or internationally (B)</p> Signup and view all the answers

Which type of ownership typically has several owners?

<p>Partnerships (D)</p> Signup and view all the answers

Which type of organization seeks to make a profit?

<p>Public corporations (A)</p> Signup and view all the answers

What is the purpose of a business model?

<p>To generate revenue (D)</p> Signup and view all the answers

What is the definition of competitive advantage?

<p>The aspects of a product or service that makes it more appealing to target customers (D)</p> Signup and view all the answers

What type of ownership has one owner?

<p>Sole proprietorships (D)</p> Signup and view all the answers

What does the term 'geographic reach' refer to?

<p>The extent to which a business operates locally, regionally, nationally, or internationally (D)</p> Signup and view all the answers

Flashcards are hidden until you start studying

More Like This

Business Fundamentals Quiz
24 questions

Business Fundamentals Quiz

FastestGrowingNovaculite avatar
FastestGrowingNovaculite
Business Fundamentals Quiz
17 questions
Use Quizgecko on...
Browser
Browser